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Juniper Networks Falls Short of Estimates, Shares Down Over

Financial News Network
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July 27, 2011 AT 12:38 AM
Juniper Networks (NASDAQ:JNPR) reported Q2 EPS of of $0.31 today, falling short of analyst expectations for $0.33 per share. Revenue for the quarter came in at $1.12 billion, also short of expectations for $1.15 billion.For Q3, the company sees EPS of $0.26 to $0.30 and revenue of $1.07 to $1.12 billion, well below estimates for $0.38 per share and revenue of $1.22 billion. CEO Kevin Johnson commented, "Juniper's results reflect momentum in our routing business and a return to solid performance in switching. A number of factors, however, including mixed signals in the macro economy, impacted our performance this quarter."Shares of the company are trading down 12.86% to $27.16 in after hours trade.Juniper Networks (NASDAQ:JNPR) has a potential upside of 38.6% based on a current price of $31.17 and an average consensus analyst price target of $43.2.